French perfume maker Interparfums forecast on Tuesday annual sales of close to 300 million euros (269.34 million pounds), noting an improvement in order intake suggesting a gradual recovery in business.

This was in line with the 299.7 million euros in sales expected by analysts in a company-compiled consensus.

Interparfums, which develops perfumes as well as cosmetic lines for luxury brands such as Jimmy Choo, Coach and Montblanc, initially targeted 500 million euros in 2020 sales and an operating margin of 14% to 14.5%, but withdrew its initial guidance in April, citing uncertainty caused by the coronavirus pandemic.

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It also reported a half-year operating margin of 7.5%, beating its own forecast from late July of around 5%.